# Ethereum Regains Top Spot in DEX Market, Overtaking Binance Smart Chain

The Ethereum blockchain has reclaimed its position as the leading decentralized exchange (DEX) platform in the DeFi market, surpassing Binance Smart Chain (BSC).

# Ethereum Tops Weekly DEX Volume

According to DeFi Llama, from March 21 to 28, Ethereum recorded a weekly DEX trading volume of $10.923 billion, taking back the top spot. BSC followed closely, registering $10.542 billion, a significant 25.95% decline from the previous week. Despite an increase in BSC’s Total Value Locked (TVL) to $1.743 billion, its trading volume saw a downward trend. BSC’s market share fell to 23.44%, while Ethereum’s share rebounded to 29.29%. Industry analysts attribute BSC’s temporary surge to the effect of the new listing on Binance Alpha.

# Ethereum Dominates Across Metrics

Ethereum maintained its leadership in TVL, bridge volumes, and stablecoin deposits. The weekly DEX trading volume grew by 4.91% for Ethereum. Solana saw a 5.43% increase in trading volume, reaching $8.846 billion. Notably, Solana’s cross-chain activity was vigorous, with a bridge TVL of $25.187 billion compared to its TVL of $7.433 billion.

# Hyperliquid L1 Shows Remarkable Growth

A standout performer was Hyperliquid L1, which saw its trading volume surge by 100%, reaching $1.237 billion for the week. However, its DEX TVL remained relatively low at $90.99 million. Post-JellyJelly incident data, including the sharp drop in TVL, may not yet be fully reflected, warranting closer monitoring of future trends.

# Other Blockchains See Declines

Other blockchains, such as Bitcoin, Tron, and Base, experienced declines in trading volume. Tron’s weekly volume fell by 31.51% to $610 million. Base also saw a 10.74% drop. Bitcoin continued its struggle within the DeFi market.

As the DEX market shifts back to being Ethereum-centric this week, market observers will watch closely to see if BSC and Solana can reclaim their dominant positions in the coming weeks.